(MENAFN) In Q2, the Philippine's economy rose at a fast pace beating expectations, as the government construction boom and an extended rebound in the farm sector took some of the sting off a peso currency wallowing at 11-year lows.
The second fastest growing economy in Asia after China had left some concerns over the activity that might wane if foreign investors are scared off by President Duterte's war on drugs.
As the total GDP increased to 6.5% in Q2 from a year earlier, it picked up from the previous 6.4% pace in Q1 and above the 6.2% forecast of Reuters.
However, Economic Planning Secretary Ernesto Pernia said: "We are well on track to meeting our full-year target growth of 6.5-7.5 percent."
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